human resources real estate navigating nepotism: stormy ...€¦ · marketers woo customers. yet...
TRANSCRIPT
REAL ESTATE
Three Things to Consider before Buying a Marina
Marinas offer a unique and exciting opportunity
for investors who want to live the dream of
working by the water. However, with this
opportunity comes the challenge of balancing
the numbers and living the dream. Before you
launch into this endeavor, it’s important to
consider the following three things.
Scarcity is one of the greatest obstacles to
marina ownership. Waterfront investment
opportunities are not plentiful in most areas,
and competition for existing sites can be high.
Potential owners may need to closely evaluate
whether upfront investment costs can coexist
with current investing strategies. Capitalization
ratios can be significantly lower than those of
more traditional real estate investment options.
Capital costs need to be fully understood
before you invest. These include line items
such as site upgrades, repair and maintenance
costs associated with maintaining the facility,
day-to-day operational costs, predicted income
from slip rates, and occupancy—with an eye
toward seasonal fluctuations in usage. For
safety reasons, maintenance must be kept up to
date without having a detrimental impact on the
use of the site. This includes covering
expenditures during the off-season when there
is less income.
Engineering assessments will ensure that the
marina you are considering is in a location that
will allow it to survive and thrive for years to
come. Marinas are highly impacted by severe
weather and the surrounding environment. A
detailed engineering report can let the potential
owner know how well the marina will stand the
test of time.
HUMAN RESOURCES
Navigating Nepotism: Stormy Waters Ahead
If you own or run a small business, you may be tempted to hire a friend or
family member—either because you actually need the help or because the
person needs a job.
While there are advantages to having a buddy on your staff, there are also
challenges. For starters, friends and family may assume privileges or try to take
advantage of their relationship with you. They may intentionally or
inadvertently undermine your authority or blur the boundary between personal
and professional realms.
Additionally, monetary discussions with friends and family members can be
extremely awkward, and performance reviews are often difficult. And even if
you try to avoid showing favoritism, other employees may perceive nepotism.
Of course, there are exceptions, and some family businesses thrive. But before
hiring a friend or family member into your business, be sure you are hiring for
the right reasons.
Additionally, be sure the person’s skill set, experience, and work ethic fit the
position. Always set performance expectations in advance and be frank and up
front about salary and bonuses. Lastly, go into the situation prepared to hold the
person to professional standards.
Ultimately, you should always hire the person who is best for the job. If that is a
friend or family member, be aware that the time may come when you have to
make a decision that they won’t like, and this may result in a damaged
relationship that lasts a lifetime.
Page 1
September 2018
How to Win Big in Today's Economy
The altered economic landscape
presents innovative and nimble
businesses with opportunities to
thrive.
Find out how by requesting my
free report “How to Win Big in
Today’s Economy” by emailing
me at
as specific interests, such as design,
advertising, IT, or nursing. If posting an
entry-level position, they can target
recent graduates using the “life
event” feature.
A/B testing is another adoptable
marketing technique, in which recruiters
post several versions of a job ad,
varying the wording, and then get back
statistics on which of those versions
worked best.
In addition to social media,
professionals should consider other
online channels. For business positions,
Quora is a good bet. If you’re recruiting
for software developers, look at Stack
Overflow and GitHub. New recruitment
sites like Glassdoor are also popular
with job seekers, especially younger
candidates.
Incorporating these innovative
strategies into recruitment plans can
enhance efforts and produce more
qualified candidates.
Page 2
The digital age offers tools and
platforms that can help HR
professionals identify and recruit top
talent in the same ways in which
marketers woo customers. Yet most
recruiters have not fully integrated
advanced tracking, analysis, and
measurement technologies into their
processes.
For example, while most recruiters post
job ads on social media, relatively few
track the responses or analyze their
results to see which ads and sites are
most effective. A simple tool called
UTM, used in conjunction with Google
Analytics, enables recruiters to see how
much traffic an ad generates. The
methodology is further enhanced with
Bitly, a tool that hides the UTM code
from users and provides data on how
often the link was followed.
Another marketing strategy that can aid
recruiters is “smart targeting,” offered
on sites such as Facebook and LinkedIn.
Recruiters can target certain
demographics and geolocations as well
Worth Reading Don’t Want to Work Today? Just
Do This
By Bryan Collins
Forbes
We all know what it’s like to feel
unmotivated and unproductive. But
instead of feeling guilty or frustrated,
the key is to learn how to manage
these low periods. Strategies include
treating procrastination as a reward,
scheduling your day the night before,
and keeping an eagle eye on your
energy levels. More:
https://tinyurl.com/sept2018-bizread1
Is Podcast Marketing Right for
Your Business?
By Kate Harrison
Forbes
While radio advertising in the U.S.
has flatlined, podcast advertising is
forecasted to double between now and
2021. Why? Just look at the numbers:
24% of Americans are regular podcast
listeners, and more than 40% of
Americans over 12 years old have
listened to one. This offers an
incredible opportunity for prospective
advertisers, many of whom are now
experimenting with creating podcasts.
More: https://tinyurl.com/sept2018-
bizread2
How to Ensure Your Small Business
Isn’t a Failure Statistic This Year
By Kathy Caprino
Forbes
Did you know that 20% of small
businesses fail in their first year, and
that approximately 50% fail in their
fifth year? It’s clear from the data
there are plenty of risks when it comes
to starting a business. But don’t let the
numbers deter you. There’s plenty
you can do to avoid failure and
actually thrive. More:
https://tinyurl.com/sept2018-bizread3
HOT BIZ TRENDS
Digital Recruiting Has Arrived: Are You Reaping the Benefits?
Everyone talks about building a
relationship with your customer. I think
you build one with your employees
first.
Angela Ahrendts
When employees are happy, they are
your very best ambassadors.
James Sinegal
The magic formula that successful
businesses have discovered is to treat
customers like guests and employees
like people.
Tom Peters
Treat employees like partners, and they
act like partners.
Fred Allen
You have to empower your employees
to make their own choices and trust that
they will make the right choices.
Dara Khosrowshahi
Employees who can’t trust their leader
to be vulnerable are not going to be
vulnerable and build trust with one
another.
Patrick Lencioni
WISDOM
Quotes on … Employees
Page 3
Quick Quiz Each month I’ll give you a new
question.
Just email me at
call 916-273-6844 for the answer.
This month’s question:
Officinaphobia is the fear of what?
How would you describe the atmosphere
in your workplace? Are relations good?
The answer to this question affects every
aspect of your business. Use the links
below to improve employee relations and
enhance your company’s atmosphere.
Certain factors can destroy employee
relations. Avoid these scenarios:
https://tinyurl.com/employeerelations11
Take a lesson from social media to boost
your employee engagement:
https://tinyurl.com/employeerelations1
LINKS YOU CAN USE NOW
This Month—Employee Relations What do employees really want from
you? The answer may surprise you:
https://tinyurl.com/employeerelations2
Improving employee relations requires
strategic efforts. Here are nine practices
you might not be following:
https://tinyurl.com/employeerelations3
Poor relationships in the workplace can
hurt your bottom line. Learn how to
improve interactions:
https://tinyurl.com/employeerelations4
Investment in commercial real estate
provides property owners with a unique
opportunity to enrich their greater
community as well as their investment
portfolio. Many cities have areas that
could benefit from revitalization
projects. Investors can play an integral
role in the transformative change
movement and turn around these oft-
struggling regions. For those who might
consider such an endeavor, there are
three key questions to ponder.
What is a revitalization project? A
revitalization project requires a focus on
investment in a struggling or
underutilized area to bring about
positive change that will benefit the
greater community. As an investor in
these areas, you can find undervalued
properties that have the potential to
increase in value.
Investment in a revitalization project
does not provide a quick return,
particularly for those who come in
during the first phase. The return for
investors increases exponentially during
the mid-phases, as other investors take
notice of the positive impact the project
is having on the immediate area and
look to get in on the action.
More interest in an area generates
increased market value. By carefully
allocating investment capital, a prudent
investor can put the equity earned from
investment in phase one of the project
toward the purchase of an additional
property during a later phase.
How does participation in a
revitalization project benefit an
investor’s portfolio? This investment
provides investors an opportunity to
enrich their community as well as
themselves. Investors can find good
value and lower competition in these
struggling regions. As the community
improves, the profits that the building
generates will also increase. This
process can be expedited by
repurposing the building for multiple
uses. The right mix of retail, office, and
residential space can accelerate
community growth by providing
additional opportunities for
employment, market stability, and
consumer confidence.
Another benefit involves utilizing the
equity from properties obtained during
early phases. This can be used to either
fund later phases or purchase additional
properties to further accelerate project
growth. In turn, the investor is rewarded
with a balanced monthly cash flow,
increased reputation in the community
for future development projects, and a
solid portfolio.
What methods are used to measure
the positive impact of the
investment on the community?
Community improvement can be
tracked using several metrics,
including crime rate, unemployment,
and median wage. These statistics can
provide a measurable basis on which
to quantify the impact your
investment is making in the area.
Another method used to measure the
impact of your investment within the
community is to follow market trends
in the surrounding areas. As the
stability of the phase-one community
continues to increase, adjacent
properties will become more
appealing to new investors who may
not have the capital to invest in the
immediate project area.
Furthermore, municipal investment in
the supporting infrastructure is
another key indicator of the success
of your investment within the
community. It is important to work
with municipal figures throughout the
project. By showing key decision-
makers quantifiable statistical
evidence, you can reduce the time
and money required to clear up any
metaphorical roadblocks to project
growth.
REAL ESTATE
Giving Back Can Mean More Than a Strong Balance Sheet
This newsletter and any information
contained herein are intended for
general informational purposes only and
should not be construed as legal,
financial or medical advice. The
publisher takes great efforts to ensure
the accuracy of information contained in
this newsletter. However, we will not be
responsible at any time for any errors or
omissions or any damages, howsoever
caused, that result from its use. Seek
competent professional advice and/or
legal counsel with respect to any matter
discussed or published in this
newsletter.
Page 4
Sierra Business Bulletin
Brought to you by: Sierra Commercial Capital
Inside This Month
• Navigating Nepotism:
Stormy Waters Ahead
• Three Things to
Consider before
Buying a Marina
• Digital Recruiting Has
Arrived: Are You
Reaping the Benefits?
• Giving Back Can
Mean More Than a
Strong Balance Sheet
About News You Can Use
All rights reserved. The publisher and Ready to Go Newsletters make every effort to ensure the accuracy
of information contained in this newsletter. However, we will not be responsible for errors or omissions or any damages, howsoever caused, that result from its use. If you would like to publish your own
newsletter, please contact Ready to Go Newsletters at www.ReadyToGoNewsletters.com.
Sierra Business Bulletin is brought to you free by: Marty Sharp, Commercial Loan Broker Sierra Commercial Capital 3257 Folsom Blvd. null Sacramento, CA 95816 916-273-6844 [email protected] www.sierracommercialcap.com www.cabizloans.com License # CFLL 60DBO69962
FORECASTING
Want a Strong Q4? Pay Attention to These Biz Trends
Fueled by technology, business is changing more rapidly than ever before.
Entrepreneurs should be aware of key trends and predictions that will affect small
businesses for the rest of this year and into 2019.
Cybersecurity: Small businesses have become prime targets for ransomware and
attacks on mobile banking and card transactions. As cashless payments continue to
grow, mobile wallets like Apple Pay, Samsung Pay, and Google Pay are seeing greater
adoption, as are various app, browser, and person-to-person payment platforms.
Marketing: More and more, consumers are seeking customized content and offerings.
Advances in technology, such as individualized email messaging, allow small business
to provide the personalization their customers desire.
Social: Social media advertising has become more competitive and more expensive.
SMEs can benefit by using apps to link single posts to multiple sites. This will
streamline their postings to reduce time spent on social media marketing. Partnering
with micro-influencers—those with under 100K followers—has also proven beneficial
for SMEs.
Gen Z: This generation is beginning to make its presence known in the consumer and
workforce spaces. Gen Zers are independent and tech-savvy. Personalization is key to
attracting the attention of this cohort.
Finance: The economy is doing well, but uncertainty around tariffs and the threat of a
trade war loom large. Also, look for interest rates to tick up.
The workplace: More and more employers are turning to mobile workforces and
freelancers for noncore tasks. A large number of SMEs allow employees to work
remotely. This strategy can reduce payroll costs and increase the employee pool to
include nonlocal talent. For in-house employees, SMEs are offering wellness programs
(both physical and mental) and bolstering anti-harassment policies.
Putting strategies in place that address these key business trends will help you stay on
top of your game and ahead of your competitors, in 2018 and beyond.